Malta-based blockchain firm Chiliz announced on Monday that Hong Kong-based gaming firm Animoca Brands has joined its blockchain network as a validator and leading participant, further decentralizing the governance of Chiliz Chain.
Launched earlier this year, the Chiliz Chain is a catalyst for Web3-ready projects aimed at empowering sports brands to reward their fan bases through engagement via blockchain, the duo said in a statement.
According to the statement, Animoca Brands is widely recognized as a leading institution in blockchain innovation across gaming and digital entertainment, and has a strategic focus on the sports sector, with products such as ONE Fight Arena, AFL Mint, REVV Motosport (which includes MotoGP™ Ignition, MotoGP™ Guru, Formula E: High Voltage, REVV Racing, Torque Drift 2), and Anichess.
By becoming a node validator on the Chiliz Chain, Animoca Brands becomes an active driver in shaping the future of the Chiliz SportFi ecosystem.
This move allows Animoca Brands to integrate within Chiliz’s thriving ecosystem of elite sports brands and Web3 sports operators.
It said validators play a crucial role in the network’s governance and security by authorizing and enabling the creation of Fan Tokens, non-fungible tokens (NFTs), and decentralized applications (dApps), in addition to verifying Chiliz Chain transactions and ensuring the secure execution of smart contracts.
It is noted that Chiliz Chain is fast becoming the home for leading sports brands in Web3, with the door open for builders to explore innovative ways to pioneer SportFi applications.
Chiliz has opened up the Chiliz Chain ecosystem by removing the whitelist, making it easier for developers to deploy SportFi solutions.
More than 80 Fan Tokens from leading sports clubs like FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, and A.S. Roma have already been deployed on the Chiliz Chain via Socios.com.
Driven by their increasing utility, Fan Tokens are the most widely adopted digital asset for fan engagement in the sports sector, and can now be exchanged in multiple marketplaces, including Binance, OKX, Bitget, Paribu, ChilizX, and others.
There are already various community apps in the Chiliz ecosystem (such as Socios.com), custodial solutions (such as BitGet Wallet, Magic Link, Fireblocks), and upcoming DeFi lending and DEX solutions (Lenx, PepperSwap).
With the entry of Animoca Brands into the ecosystem, Chiliz reinforces its commitment to being the primary blockchain infrastructure for the sports and entertainment sectors and begin a dynamic and far-reaching collaboration.
Both entities are amplifying a network effect that spans GameFi, DeFi, and SportFi, marking a strategic alliance poised to shape the future of these interconnected digital realms.
Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, emphasized that becoming a participant in the Chiliz Chain is an opportunity to meld their expertise in NFTs and gaming with the robust sports and entertainment Chiliz ecosystem.
“We have already seen the rise of DeFi and GameFi, and we believe that SportFi represents the next major growth area that will redefine fan engagement and create new financial dynamics in the sports industry,
“We look forward to the impactful innovations that will emerge from this collaboration,” he said.
Alexandre Dreyfus, Chief Executive Officer of Chiliz said that the firm is not just operational; it is spearheading SportFi through the Chiliz Chain.
Chiliz is the home of SportFi, where sports brands meet decentralized opportunities.
Its infrastructure is driven by the Chiliz Chain, the first Layer-1 EVM compatible blockchain for sports and entertainment which now has a diverse ecosystem, fuelled by Chiliz native token CHZ.
Its primary product on the Chiliz Chain, Socios.com, hosts a global community of over two million users, which makes it the largest non-finance/trading-centric Web3 consumer-facing product globally by user base.
It has partnerships with 150+ brands, including the giants of world sport such as FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, A.S. Roma and major F1 teams.
SportFi, pioneered by Chiliz, represents the intersection of the sports industry with blockchain-based commodification.
It enhances the way fans interact financially with their favorite sports entities.
Through SportFi, fans can become truly invested in their favorite teams and organizations without risking their governance or financial stability, all while strengthening the bond between sports brands and fans using blockchain.
This creates a more direct, tangible, and rewarding relationship between fans and the sports brands they love.